Real Estate and Jamaica

Government real estate is owned by the Commission of lands, through the Land Acquisition Act. The Commission is empowered to acquire land either by way of private treaty or compulsory acquisition. Whenever it appears that land in any locality is needed for any public purpose, a notification is published in the Gazette.

Persons whose land the government acquires is entitled to compensation and rehabilitation assistance and it applies not only to legal owners , but also occupants without title or lease who are on the property at the time that notice was given and time of the survey.

Almost all the land is owned by the Government, but the parcels that bears a title under the Commission of lands is not known, because there are no database and there is a lot of land that are crown lands. If an individual wants to acquire land and do not know who is the legal owner, they should:

Find the exact location of this land
Do the necessary research for the legal owner

If the land comes up as owned by the Commission of lands, then they should write a letter stating their claim. Another way land can be acquired is if the property is advertised by the Commission of lands, inviting bids, then one can tender a bid.

Real Estate Companies in Jamaica

There are a number of real estate broker companies in Jamaica today and they offer a range of services. The top real estate broker may be based on the amount of transaction done, revenue generated from sales, information and hits on websites, popularity and feedback from satisfied customers.

The following companies are listed as the top five broker companies in Jamaica:

Coldwell Banker Jamaica Realty represents a long history in Jamaica. They offer services in residential and commercial sales and rentals and have offices in Kingston and Montego Bay.

Century 21 Heave-Ho Properties with 10 years of service in Jamaica and has offices in Kingston and Montego Bay. Offer services local and overseas in sales, rentals and leases.

Valerie Levy and Associates Limited were incorporated in 1984 with offices currently located at Constant Spring Road, Kingston 8. Offering services here in Jamaica and in the International Market Place such as residential, commercial and agricultural sales and rentals.

Sangster’s Realty has been in the business of real estate in Jamaica since 1988. Selling and renting residential, commercial and agricultural properties. Also arranges mortgage financing, property appraisal, conveyancing and survey to clients in Jamaica and overseas.

Victoria Mutual Property Services Ltd is a wholly owned subsidiary of the Victoria Mutual Building Society, one of the largest financial institutions of its kind in Jamaica. The primary activities of the company are real estate brokerage, property and project management and property appraisal/valuations.

Top 5 Jamaican Real Estate

Real estate in Jamaica has managed to attract large private sector investments, which has supported the rapid expansion and transformation of its infrastructure. Over the last couple of years, there has been an influx of overseas investors developing luxurious properties on the north coast.

Properties that are in the immediate area or even neighbouring communities have started to feel the ripple effect and prices have been increasing exorbitantly. However although the prices have been increasing, Jamaica real estate offers more value than the rest of the Caribbean.

Five top communities to buy real estate in Jamaica now are the Kingston six, seven and eight areas. On the north coast you have areas such as Montego Bay, Negril and Ocho Rios.

These areas have communities that one could consider elite neighborhoods and based on what has been reflecting in the current market trends, these properties are well sort after and are normally more expensive. Names such as Jacks Hill, Cherry Gardens, Spring Farm and West End just to name a few.

However in the resort towns such as Montego Bay, Ocho Rios and Negril, you will find that not only the residential areas account for this price point. There are commercial properties such as luxury resorts and prime beachfront lots that have been seeing a lot of transformation; therefore you have this trend in prices.

St Thomas Jamaica

St. Thomas is a parish situated at the south eastern end of Jamaica. Has some of the most beautiful beaches of all the Caribbean islands also has mountains which are speckled with exotic plants and greenery, providing a sight that is breath taking almost any time of the year. Buying property anywhere in the world has its pros and cons and St. Thomas is no different.

Buying property in St. Thomas is not a bad investment, you will be less than 30 minutes east of Kingston, where you have universities and is the hub of all if not most of Jamaica’s business offices. If you have employment or have to go to school in Kingston it is easier to commute. Jamaica is bustling in the real estate market now and if you are an investor at heart and like to see transformation, well this parish is a good place to do some investing. In this parish you could benefit from having commercial and residential developments. This would create jobs and housing which is well needed and you maximize on your returns.

However, persons might dissuade one from buying property in St. Thomas because it is one of the rural and poorest parishes. The workforce is primarily unskilled result in exceedingly difficult to get employment. The economy is based on crops such as sugar cane, bananas, coconuts and coffee.

Real Estate in Ocho Rios Jamaica

Ocho Rios is the capital of the garden parish St. Ann, and one of the tourist towns located on the north coast. A very popular place for our tourist visitors they travel from neighboring towns to enjoy what Ocho Rios has to offer. With attractions such as famous Dunn’s River Falls and Dolphin Cove. However as with living anywhere in the world, this town also has its advantages or disadvantages and will reflect on the development of that area.

The advantages of purchasing property in Ocho Rios are:

Investing in resort properties that can give some formidable returns, you have overseas coming in directly through the towns cruise ship terminals.

The commercial zone is on the increase and has room for growth.

Demand for housing, you will have persons migrating from rural areas for jobs such as what is offered at major hotels in this town and returning locals or overseas investors wanting to buy a second home.

Disadvantages are:

You will pay more for good, cheap accommodation and often time goods and services are very expensive, due to fact that this is a tourist town.

Pollution and overcrowding also would be factor

This beautiful town does not have proper drainage system in place and is prone to flooding

Not to be daunted though, if you do your research to see where you could achieve good solid return, one cannot lose if property is purchased in this area.

Mandeville Jamaica Real Estate

Mandeville is in central Jamaica and is the capital of Manchester. Buying a property in any area, you would have already done your research and know how you would want to invest. Buying property in Mandeville has its advantages and disadvantages:

Here are some advantages:

A cool an almost temperate climate where average temperatures tend to be a few degrees cooler than other towns.

A significant economic activity in the commercial sector, which is foreseen for real growth.
Offers high level education from its universities.
A demand for housing solutions from both rural migration and returning residents.
The cleanest, most attractive and best run towns in Jamaica.

Disadvantages:

This town does not have any resort properties, so persons loving the beach may prefer to live or invest in other areas.
A significant amount of land in Mandeville is constrained by bauxite leases or steep slopes.
Not many tourist travelers.
Lack of shipping pier.

Buying property in this area is not a bad investment and the construction of highway 2000 has significantly reduced travel time between Kingston and Mandeville. Thus, making this area more attractive and has increased the demand for housing solutions in this area.

Real Estate in St. Thomas Jamaica

St. Thomas parish is situated at the south eastern end of Jamaica and in the county of surrey. St Thomas has the unique distinction of having it all under one roof, having a great choice of activities no matter what your flavor and has some of the most beautiful beaches of all the Caribbean islands. White sandy beaches that allow you to quietly soak up the sun as you let all the tension leave your body.

Residents of St Thomas are just about as laid back as you can get, which further adds to the overall atmosphere of relaxation. This beautiful parish however has its disadvantages, significantly a parish rural in nature and if you are thinking of buying property here you will have some setbacks due to lack of infrastructures such as:

The closure of many factories which results in unemployment of persons, you even have some professionals who cannot find employment.

The bridge commonly called the Yallahs fording which has forces everyone using that section of the parish to use the river bed, has not been replaced after its destruction over three years ago. This is a major way of traveling to Kingston.Lack of economic activities such as, bad road network, poor transportation, the lack of piped water, poor condition of market and the eroding of the coastline which needs safeguarding.

This is the least recognized in productivity and widely referred to as the most backward of all the 14 parishes.